Bruce Smith— Alleged Over-concentration of REITs

Bruce Edward Smith Allegedly Recommended an Over-concentration of REITs & Charged Inappropriately High Advisory and/or Management Fees

Bruce Smith allegedly recommended an over-concentration of REITs (KBS Real Estate Investment Trust and Behringer Harvard Opportunity REIT) and allegedly charged inappropriately high advisory and/or management fees, according to a pending Customer Dispute filed on Smith’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.

The Claimants in the case allege that from the end of 2008 to the end of 2016, their accounts purportedly decreased from $500,000 to $220,000, FINRA notes. The aforementioned dispute was filed on December 4, 2018, FINRA states, and is requesting unspecified damages.

Investor rights attorney Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Bruce Smith’s alleged over-concentration of REIT’s. Investors who believe they may have lost money in activity related to Bruce Smith’s alleged over-concentration of REIT’s are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Another customer alleged that the investment amount of Behringer Harvard and KBS Real Estate Investment Trusts (REITs), purportedly purchased in July 2007 and May 2009, respectively, was allegedly above the limits allowed for investing in REIT’s, FINRA notes. Said dispute was filed on December 12, 2014, and requested damages of $652,000.00, FINRA states.

Bruce Smith Has Two Disclosures in His 26 Years in the Securities Industry & Has Been Registered with Ameriprise Since 1992

Bruce Smith has two disclosures in his 26 years in the securities industry and has been registered with Ameriprise Financial Services, Inc. in Bartlesville, Oklahoma since June 29, 1992, FINRA reports.

Bruce Smith was also registered with IDS Life Insurance Company in Minneapolis, Minnesota from June 29, 1992 until July 3, 2006, according to Smiths FINRA BrokerCheck Report.

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.

Securities Lawyer Investigating

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Bruce Smith’s alleged over-concentration of REIT’s. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Bruce Smith’s alleged over-concentration of REIT’s ’s alleged may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

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